President and Member of Board, Infosys resigns - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research, Angel Broking)

President and Member of Board, Infosys resigns:

"Mr. B.G. Srinivas, President and Member of Board, Infosys, has conveyed his intention to resign with effect from June 10, 2014. Mr. Srinivas was leading a portfolio that included – Financial Services, Insurance (FSI), Manufacturing, Engineering Services, Energy and Communications, Infosys Public Services, Strategic Global Sourcing, and Marketing and Alliances. He has been with Infosys since the past fifteen years. While, the recent times have seen a hughe exodus from the Infosys, we believe that given the leadership quality and management track record, the company can cruse through the same. We maintain our buy recommendation on the stock with a target price of Rs. 3,640."

Shares of INFOSYS LTD. was last trading in BSE at Rs.2999.8 as compared to the previous close of Rs. 3037.95. The total number of shares traded during the day was 150464 in over 19731 trades.

The stock hit an intraday high of Rs. 3012.6 and intraday low of 2956.15. The net turnover during the day was Rs. 448331570.

Source : Equity Bulls

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